Renault shares fall after Nissan's bleak outlook

FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near Strasbourg, France, January 10, 2019. REUTERS/Vincent Kessler/File Photo

PARIS (Reuters) - Renault’s shares fell sharply on Wednesday, in the wake of a slump in the stock price of its Japanese partner Nissan after Nissan issued a bleak earnings outlook.

Renault shares were down 2.5 percent in early trading, making them among the worst performers on both the Paris and broader European stock markets.

Nissan forecast a 28% plunge in its annual operating profit, putting it on course for its weakest earnings in 11 years and underscoring its struggle to turn the page after former chairman Carlos Ghosn was ousted.